Slash is eyeing an April release for his next solo album, which he recently began recording at Barefoot Recording in Hollywood, Calif., with singer Myles Kennedy and the rest of the band that backed him on tour to promote his 2010 eponymous solo debut album. Slash plans to rejoin his band in the studio in December and record for at least a month.

"It's very different from the last one," he tells Billboard.com of the new disc. "There's a lot of freedom on this record; it's very diverse, but it's definitely the sound of one band with a lot of different ideas ... This is probably the most 'live' recorded album I've ever done."

Before he resumes working on his next album, Slash also plans on rejoining Velvet Revolver in the studio to "spend some time with a couple of singers -- that's all I can tell you," he reveals. The supergroup, which has been on hiatus since parting ways with Scott Weiland back in 2008, recorded with Slipknot/Stone Sour frontman Corey Taylor earlier this year but nothing came of that.

Finally, the former Guns N' Roses guitarist admits he's considered what will happen onstage if GN'R are elected into the Rock and Roll Hall of Fame in 2012 -- which he says would be "a cool accolade, I suppose" -- but admits in the end nobody has an idea of what would go down onstage. "Of course, you have those thoughts of how it might work ... but with Guns 'N Roses, there's really no guessing exactly how it will go," he says. "I suppose if it happens, everybody will get some sort of ducks in order. But I think the first thing to do is wait and see if we actually get inducted, because you know how unpredictable that is."